Business

NSE erases previous day’s gain, loses N115bn

Trading activities on the floor of the Nigerian Stock Exchange yesterday closed on the negative route to upturn previous day’s gain as bears regained grip following the selloff witnessed on blue chip firms. The local bourse recorded seven gainers against 26 losers to close the trading session negative. Consequently, the All-Share Index dipped 220.65 basis points or 0.89 per cent to close at 24,374.40 index points as against 24.595.05 recorded the previous trading session while market capitalisation of equities depreciated by N115 billion from N12.830 trillion the previous day to N12.715 trillion as market sentiments returned negative. Meanwhile, a turnover of 180.12 million shares exchanged in 3,889 deals was recorded in the day’s trading.

The premium sub-sector was the most active (measured by turnover volume); with 67.92 million shares exchanged by investors in 1,461 deals. Volume in the sub-sector was largely driven by activities in shares of FBNH Plc and UBA Plc. Also, the banking subsector, boosted by the activities in shares of GTBank Plc and Fidelity Bank Plc, followed with a turnover of 32.82 million shares in 551 deals.

Further analysis of the day’s trading showed that in percentage terms, Neimeth Pharmaceuticals Plc topped the day’s gainers’ table with 9.40 per cent to close at N1.62 per share while Jaiz Bank Plc followed with 7.27 per cent to close at 59 kobo per share. Unity Bank Plc added 6.38 per cent to close at 50 kobo per share. On the flip side, Capital Hotel Plc and GSK Plc led the losers with a drop of 10 per cent each to close at N2.43 and N4.95 per share respectively while Unilever Nigeria Plc shed 9.80 per cent to close at N13.80 per share. C and I Leasing Plc trailed with 9.78 per cent to close at N4.15 per cent.

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